American Beacon Advisors [see profile] is readying a new fund to
take advantage of domestic and international fixed income and currency plays as well as futures contracts.

According to a filing, the Absolute Strategies Fund will bet on "fixed income instruments without restrictions on their credit quality" although under normal market conditions, the fundís investments in high yield bonds will be limited to 50 percent of the its net exposure. The fund may also invest a significant portion of its assets in a particular geographic region or country, including emerging markets.